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Protection sales boom for IFAs

Protection business sales through IFAs have more than doubled since 2001.

Scottish Provident head of marketing and product development Nick Kirwan says Q2 this year saw annual premiums through intermediaries hit a record £107m. The first quarter of 2001 saw just over £50m.

Kirwan says: “The growth is driven by a host of factors, including house prices, intermediaries looking for alternative income streams and lighter-touch regulation.”

Lifesearch technical adviser Adam Clark says: “Investment markets have been shaky and protection has become increasingly important.”

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